I refinanced my home to buy our vacation home in Tahoe back in May/June of '03. I got a 15 yr note with an interest rate of 4 3/8% fixed and payed a 1/4 point.
I believe the current interest rates are currently the lowest they have been in over a year.
Hi denmo: If I recall, mortgage rates were low. We've refinanced several times when it made sense. The most I can say, deduce, about low rates is that the cost of money is low. I can't predict what it may mean in years ahead.